- Lauren Hepler
- Economic Development Reporter- Silicon Valley Business Journal
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The measure calls for multiple visa options to be available for those looking to either immigrate to the U.S. or work in the country temporarily.
In the temporary category, the bill specifies that those applying for visas must have secured at least $100,000 from qualified U.S. investors, or created a minimum three full time U.S. jobs and generated a minimum $250,000 in annual revenue in the country. Those visas would be good for up to three years, with renewal options.
For those looking to immigrate to the U.S. and launch a company, the tech world is still trying to assess specific requirements. According to the bill, a “qualified entrepreneur” is defined as a senior executive at a startup with a significant ownership interest in the company.
“It’s something we’re still looking at,” said Michael McGeary, co-founder and chief political strategist of San Francisco startup policy advocacy group Engine Advocacy. “We’re continuing to take a look at an 844 page document that came out at 2:45 in the morning in Washington.”
McGeary, who is currently in Washington meeting with lawmakers, said he is encouraged by the measure overall. He added that a provision in the bill that drastically increases the number of H-1B employer-sponsored visas available to tech talent could help broaden immigration options.
Lauren Hepler covers economic development, sports, and hospitality for the Silicon Valley Business Journal. She can be reached at 408.299.1820
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